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Income Tax (Amendment) Act, 2020 🇬🇭


Coat of Arms
Republic of Ghana


The one thousand and seventeenth

Act

of the parliament of the republic of ghana
entitled

Income Tax (Amendment) Act, 2020

  • Published by Government Gazette on 8 May 2020
  • Assented to on 8 May 2020
  • Commenced on 8 May 2020
AN ACT to amend the Income Tax Act, 2015 (Act 896) to exempt withdrawals from provident funds and personal pension schemes as a result of loss of employment or capital due to the Novel Coronavirus (COVID-19) pandemic and to provide for related matters.PASSED by Parliament and assented to by the President

1. Section 94 of Act 896 amended

The Income Tax Act, 2015 (Act 896) is amended in section 94 by the insertion after subsection (3), of"(4) A withdrawal from a provident fund or personal pension scheme before the retirement age by reason of the Novel Coronavirus (COVID-19) pandemic, by
(a)an employee due to loss of permanent employment or
(b)a self-employed person from the personal savings account provided for under paragraph (a) of subsection (2) of section 109 of …

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